Four students each contribute $12 to buy a pizza, salad, and large soda. How much would each student pay if two more students al
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we know that
The simple interest formula is equal to
where
P is the Principal amount of money to be invested
I is the amount of money in interest
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above and solve for P
therefore
<u>the answer is</u>